<div align="justify">India’s software exports are expected to grow 7-8% in 2017-18 as against 8.6% last year, according to IT industry lobby group National Association of Software and Services Companies (Nasscom).<br /><br />Presenting the outlook for FY18, Nasscom on Thursday said the industry had gone through political and economic uncertainties that had impacted decision-making and discretionary spending.<br /><br />It expects an increase in exports at $124-125 billion in FY18 as against $116 billion in the same period last fiscal.<br /><br />According to Nasscom, the slowdown is significant in the banking and financial services business, a major contributor to the IT industry’s revenues. <br /><br />“It has also been hit by its retail clients facing a slowdown from the rise of online retail channels. The size of the Indian IT industry is pegged at $154 billion, including $11 billion incremental revenues added in the previous fiscal,” the Nasscom report said.<br /><br />Nasscom also finds that the industry’s $11 billion domestic revenue is expected to grow faster than export revenues, a marked change from previous years. This is attributed to a relatively fast adoption of digital solutions by Indian enterprises.<br /><br />Commenting on the report, Nasscom president R Chandrashekhar said the industry, manoeuvring through an uncertain phase this past year, had still maintained its status as a key hirer and global technology and services hub.</div>
<div align="justify">India’s software exports are expected to grow 7-8% in 2017-18 as against 8.6% last year, according to IT industry lobby group National Association of Software and Services Companies (Nasscom).<br /><br />Presenting the outlook for FY18, Nasscom on Thursday said the industry had gone through political and economic uncertainties that had impacted decision-making and discretionary spending.<br /><br />It expects an increase in exports at $124-125 billion in FY18 as against $116 billion in the same period last fiscal.<br /><br />According to Nasscom, the slowdown is significant in the banking and financial services business, a major contributor to the IT industry’s revenues. <br /><br />“It has also been hit by its retail clients facing a slowdown from the rise of online retail channels. The size of the Indian IT industry is pegged at $154 billion, including $11 billion incremental revenues added in the previous fiscal,” the Nasscom report said.<br /><br />Nasscom also finds that the industry’s $11 billion domestic revenue is expected to grow faster than export revenues, a marked change from previous years. This is attributed to a relatively fast adoption of digital solutions by Indian enterprises.<br /><br />Commenting on the report, Nasscom president R Chandrashekhar said the industry, manoeuvring through an uncertain phase this past year, had still maintained its status as a key hirer and global technology and services hub.</div>
